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Introduction to Experimental Economics

In: Experimental Economics

Author

Listed:
  • Douglas D. Davis

    (Department of Economics, Virginia Commonwealth University)

  • Charles A. Holt

    (Department of Economics, University of Virginia)

Abstract

This is the first comprehensive treatment of laboratory experiments designed to evaluate economic propositions under carefully controlled conditions. While it acknowledges that laboratory experiments are no panacea, it argues cogently for their effectiveness in selected situations. Covering methodological and procedural issues as well as theory, Experimental Economics is not only a textbook but also a useful introduction to laboratory methods for professional economists. The emphasis is on organizing and evaluating existing results. The book can be used as an anchoring device for a course at either the graduate or advanced undergraduate level. Applications include financial market experiments, oligopoly price competition, auctions, bargaining, provision of public goods, experimental games, and decision making under uncertainty. The book also contains instructions for a variety of laboratory experiments.

Suggested Citation

  • Douglas D. Davis & Charles A. Holt, 1992. "Introduction to Experimental Economics," Introductory Chapters,in: Experimental Economics Princeton University Press.
  • Handle: RePEc:pup:chapts:5255-1
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    More about this item

    Keywords

    laboratory experiments; financial markets; price competition; auctions; bargaining; games; decision making; uncertainty;

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General

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